Renaissance Technologies LLC increased its stake in Wolverine World Wide, Inc. (NYSE:WWW – Free Report) by 111.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 534,045 shares of the textile maker’s stock after purchasing an additional 281,845 shares during the quarter. Renaissance Technologies LLC’s holdings in Wolverine World Wide were worth $8,716,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Clearstead Advisors LLC lifted its position in Wolverine World Wide by 191.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,602 shares of the textile maker’s stock worth $29,000 after acquiring an additional 1,053 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Wolverine World Wide in the second quarter valued at approximately $34,000. Global Retirement Partners LLC grew its position in Wolverine World Wide by 2,134.9% in the fourth quarter. Global Retirement Partners LLC now owns 2,883 shares of the textile maker’s stock valued at $52,000 after acquiring an additional 2,754 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Wolverine World Wide by 68.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,040 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 1,232 shares during the period. Finally, Archer Investment Corp purchased a new stake in shares of Wolverine World Wide during the first quarter valued at approximately $95,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
Wolverine World Wide Stock Performance
Shares of WWW opened at $19.64 on Monday. The business’s 50 day moving average is $17.66 and its two-hundred day moving average is $17.37. Wolverine World Wide, Inc. has a 52-week low of $13.47 and a 52-week high of $32.80. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 15.84 and a beta of 1.73. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.26.
Wolverine World Wide Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, July 1st. Wolverine World Wide’s dividend payout ratio is 32.26%.
Insider Buying and Selling
In other Wolverine World Wide news, Director Brenda J. Lauderback sold 5,500 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $15.88, for a total transaction of $87,340.00. Following the completion of the transaction, the director directly owned 54,202 shares of the company’s stock, valued at $860,727.76. This trade represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Robert W. Baird decreased their target price on shares of Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Telsey Advisory Group lowered their price target on shares of Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 15th. Zacks Research raised shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Finally, Wall Street Zen cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.75.
Check Out Our Latest Stock Report on WWW
Wolverine World Wide Profile
Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.
Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.
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